IKEA to Open Stores in Giheung, Geryong, and Busan

August 30, 2017 08:10l08 30, 2017 08:51

Global furniture and home furnishing company IKEA has earned 365 billion won in sales for the past one year in Korea. The company said that it would open a total of six stores in Korea starting with a second store in Goyang, Gyeonggi Province, followed by Yongin (Gyeonggi) and Gyeryong (South Chungcheong) by 2020.

Andre Schmidtgall, president of IKEA Korea, said on August 29 in a press briefing held in Bread Comma in Seoul's Yeonnam-dong that his company's sales revenue for the 2017 fiscal year (September 2016 to August 2017) was 365 billion won.

This is up 6 percent from the previous year of 345 billion won. During the same period, the number of visitors to its Gwangmyung location rose to 6.49 million, with the number of IKEA family members bloating to 1.2 million and the number of visitors to its mobile app and website skyrocketing to 38.8 million.

The company said its second store in Goyang would be launched on October 19 this year. The location, whose total area reaches 164,000 square meters and sales floor area 52,199 square meters, is somewhat smaller than that of the Gwangmyung store, but will be equipped with state-of-the-art systems. The two floors of the building will be leased by IKEA while the lobby floor and the B1 level would be rented by Lotte Outlet.